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SEC Sets Date to Consider Controversial Pay Ratio Rule

Joe Mont | September 16, 2013

On Wednesday, the Securities and Exchange Commission will finally give an indication of how it may implement a controversial Dodd-Frank Act requirement for companies to disclose the median annual total compensation of all employees as a ratio to the median annual total compensation of the company's chief executive officer.

Proponents of the measure say it is a simple enough way to keep tabs on runaway executive compensation that contributed to the financial crisis. Business leaders, however, counter that the complexities of executive pay packages, and the nature of their global workforce, make such a calculation difficult and expensive.

SEC commissioners will consider whether to propose rules to realize the requirement at an open meeting on Sept. 18 at 10 a.m.,at its Washington D.C. headquarters. A live webcast will also be offered through the SEC website.

In a separate matter, the Commission will also consider whether to adopt new rules and forms related to the registration of municipal advisers.

Less than the standard seven days notification was given for the meeting, noted in the announcement as necessary because “no earlier notice was possible.”